Danaher
Danaher returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 26, 2026 | — | 6.45% | — | 7.63% | 4.6% | — |
| FY 2026 Q1 | Mar 27, 2026 | — | 6.41% | — | 7.11% | 4.54% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 6.36% | — | 7.08% | 4.49% | — |
| FY 2025 Q3 | Sep 26, 2025 | — | 6.28% | — | 6.84% | 4.36% | — |
| FY 2025 Q2 | Jun 27, 2025 | — | 6.02% | — | 6.68% | 4.26% | — |
| FY 2025 Q1 | Mar 28, 2025 | — | 6.52% | — | 7.22% | 4.63% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 6.62% | — | 7.57% | 4.81% | — |
| FY 2024 Q3 | Sep 27, 2024 | — | 6.3% | — | 7.51% | 4.62% | — |
| FY 2024 Q2 | Jun 28, 2024 | — | 7.08% | — | 8.27% | 5.14% | — |
| FY 2024 Q1 | Mar 29, 2024 | — | 7.26% | — | 8.39% | 5.23% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | 6.84% | — | 9.16% | 5.64% | — |
| FY 2023 Q3 | Sep 29, 2023 | — | 8.8% | — | 11.82% | 7.01% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | 9.6% | — | 12.81% | 7.63% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 10.53% | — | 14% | 8.23% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | 11.51% | — | 14.91% | 8.61% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | 11.53% | — | 14.68% | 8.27% | — |
| FY 2022 Q2 | Jul 1, 2022 | — | 10.78% | — | 13.89% | 7.95% | — |
| FY 2022 Q1 | Apr 1, 2022 | — | 10.58% | — | 14.5% | 8.13% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | 10.38% | — | 14.76% | 8.07% | — |
| FY 2021 Q3 | Oct 1, 2021 | — | 9.73% | — | 14.06% | 7.57% | — |
| FY 2021 Q2 | Jul 2, 2021 | — | 9.78% | — | 13.79% | 7.52% | — |
| FY 2021 Q1 | Apr 2, 2021 | — | 8.57% | — | 12.86% | 6.58% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | 6.72% | — | 10.02% | 5.27% | — |
| FY 2020 Q3 | Oct 2, 2020 | 6.46% | 5.87% | 2.52% | 10.12% | 5.48% | -1.2 pp |
| FY 2020 Q2 | Jul 3, 2020 | 5.91% | 5.86% | 1% | 9.85% | 5.56% | -1.8 pp |
| FY 2020 Q1 | Apr 3, 2020 | 6.15% | 6.28% | 1.82% | 10.18% | 5.42% | -1.6 pp |
| FY 2019 Q4 | Dec 31, 2019 | 6.95% | 6.53% | — | 10.05% | 5.47% | -0.8 pp |
| FY 2019 Q3 | Sep 27, 2019 | 6.71% | 6.89% | — | 8.08% | 4.54% | -1 pp |
| FY 2019 Q2 | Jun 28, 2019 | 6.7% | 7.41% | — | 8.24% | 4.88% | -1 pp |
| FY 2019 Q1 | Mar 29, 2019 | 6.72% | 7.53% | -27.58% | 8.21% | 4.89% | -1 pp |
| FY 2018 Q4 | Dec 31, 2018 | 7.46% | 8.02% | 21.88% | 9.72% | 5.61% | -0.2 pp |
| FY 2018 Q3 | Sep 28, 2018 | 7.68% | 8% | 16.87% | 10.41% | 5.9% | -0 pp |
| FY 2018 Q2 | Jun 29, 2018 | 7.45% | 7.83% | 10.57% | 10.3% | 5.7% | -0.2 pp |
| FY 2018 Q1 | Mar 30, 2018 | 7.3% | 7.66% | 1.25% | 10.01% | 5.53% | -0.4 pp |
| FY 2017 Q4 | Dec 31, 2017 | 7.19% | 7.53% | 14.41% | 10.1% | 5.42% | -0.5 pp |
| FY 2017 Q3 | Sep 29, 2017 | 7.52% | 7.19% | -3.99% | 9.81% | 5.47% | -0.2 pp |
| FY 2017 Q2 | Jun 30, 2017 | 7.01% | 6.44% | — | 8.87% | 4.53% | -0.7 pp |
| FY 2017 Q1 | Mar 31, 2017 | 7.28% | 7.5% | — | 9.53% | 4.92% | -0.4 pp |
| FY 2016 Q4 | Dec 31, 2016 | 6.46% | 6.84% | — | 10.94% | 5.46% | -1.2 pp |
| FY 2016 Q3 | Sep 30, 2016 | 8.04% | 9.26% | — | 10.78% | 5.48% | 0.3 pp |
| FY 2016 Q2 | Jul 1, 2016 | 9.18% | 9.8% | 1.32% | 14.27% | 7.93% | 1.5 pp |
| FY 2016 Q1 | Apr 1, 2016 | 9.1% | 9.69% | 1.6% | 14.83% | 8.4% | 1.4 pp |
| FY 2015 Q4 | Dec 31, 2015 | 9.08% | 9.42% | 1.27% | 14.27% | 7.88% | 1.4 pp |
| FY 2015 Q3 | Oct 2, 2015 | 8.53% | 9.41% | -0.67% | 14.22% | 7.81% | 0.8 pp |
| FY 2015 Q2 | Jul 3, 2015 | 10.87% | 10.95% | 3.56% | 10.91% | 7.18% | 3.2 pp |
| FY 2015 Q1 | Apr 3, 2015 | 10.8% | 11.05% | 2.57% | 11.19% | 7.28% | 3.1 pp |
| FY 2014 Q4 | Dec 31, 2014 | 10.95% | 11.12% | 7.92% | 11.36% | 7.25% | 3.3 pp |
| FY 2014 Q3 | Sep 26, 2014 | 11.45% | 11.34% | — | 12.1% | 7.87% | 3.7 pp |
| FY 2014 Q2 | Jun 27, 2014 | 11.23% | 11.22% | 10.15% | 12.01% | 7.69% | 3.5 pp |
| FY 2014 Q1 | Mar 28, 2014 | 11.18% | 11.24% | 10.46% | 12.11% | 7.65% | 3.5 pp |
| FY 2013 Q4 | Dec 31, 2013 | 10.86% | 11.12% | 66.59% | 13.02% | 7.97% | 3.2 pp |
| FY 2013 Q3 | Sep 27, 2013 | 11% | 11.39% | 16.3% | 12.62% | 7.77% | 3.3 pp |
| FY 2013 Q2 | Jun 28, 2013 | 10.96% | 11.38% | 164.54% | 12.89% | 7.74% | 3.3 pp |
| FY 2013 Q1 | Mar 29, 2013 | 11.01% | 11.48% | 70.68% | 13.18% | 7.86% | 3.3 pp |
| FY 2012 Q4 | Dec 31, 2012 | 10.87% | 11.61% | 34.51% | 13.32% | 7.61% | 3.2 pp |
| FY 2012 Q3 | Sep 28, 2012 | 10.67% | 11.38% | 234.82% | 13.18% | 7.5% | 3 pp |
| FY 2012 Q2 | Jun 29, 2012 | 10.55% | 10.97% | — | 13.26% | 7.36% | 2.8 pp |
| FY 2012 Q1 | Mar 30, 2012 | 11.7% | 12.1% | 7.28% | 14.51% | 8.81% | 4 pp |
| FY 2011 Q4 | Dec 31, 2011 | 11.26% | 11.71% | 6.1% | 14.19% | 8.33% | 3.6 pp |
| FY 2011 Q3 | Sep 30, 2011 | 10.92% | 11.13% | 7.26% | 13.99% | 7.96% | 3.2 pp |
| FY 2011 Q2 | Jul 1, 2011 | 10.18% | 10.9% | 5.36% | 15.4% | 8.52% | 2.5 pp |
| FY 2011 Q1 | Apr 1, 2011 | 11.91% | 12.65% | 23.41% | 14.5% | 8.96% | 4.2 pp |
| FY 2010 Q4 | Dec 31, 2010 | 11.83% | 12.12% | 20.73% | 14.15% | 8.58% | 4.1 pp |
| FY 2010 Q3 | Oct 1, 2010 | 10.76% | 11.08% | — | 13.01% | 7.8% | 3.1 pp |
| FY 2010 Q2 | Jul 2, 2010 | 10.61% | 11.1% | — | 11.39% | 6.72% | 2.9 pp |
| FY 2010 Q1 | Apr 2, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Oct 2, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jul 3, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · DHR, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.